Highlights
- PetPaint offers colored spray for dogs, including stencil kits, and is veterinarian tested and non-toxic.
- Despite the Sharks’ concerns about novelty and inventory, the product found success in national retailers and online.
- PetPaint has achieved over $5 million in lifetime sales, expanding its use beyond celebrations to animal shelters and rescue operations.
Overview
| Category | Details |
|---|---|
| Name | PetPaint |
| Founder | Abe Geary |
| Industry | Pet Products |
| Product | Colored hairspray for dogs with stencil kits |
| Funding | $200,000 ask for 20% equity (no deal) |
| Investment Ask | $200,000 |
| Equity Offered | 20% |
| Valuation | TBD |
Abe Geary wants to let people paint their pooch, so he invented PetPaint – colored hairspray for dogs. He pitches PetPaint in Shark Tank episode 508 to the panel of Sharks which has the popular “ladies of Shark tank” together once again. Geary wanted to “change the way people celebrate occasions and holidays with their dog,” so he created a business around it.
All PetPaint Products are veterinarian tested and non-toxic to your best friend. It’s a lot like colored hair paint that people use and there are stencil kits so you can put a pattern on your pooch. Abe also owns Creative Displays, a trade show exhibit business; he started PetPaint to “bring some swagger to your wagger” in 2010. The business is still new, and Abe hopes the product catches on with the body paint crowd. He’s likely looking to the Sharks to get him into national retailers.
PetPaint Shark Tank Recap
Abe approaches the Sharks offering a 20% cut of his company in return for $200,000. He brings in several dogs decorated with the Pet Paint products, including a bull-dog painted in Mark Cuban’s basketball team’s colors.
Abe’s already invested $240,000 into the product. $200,000 is tied up in inventory. He’s got patents pending on key ingredients, and has done extensive testing for toxicity and irritation.
Since he started selling in March, Abe has reached $70,000 in sales. He’s already got a PetSmart purchase order for a 50-store test, around $12,000 in sales. He’s on track to sell $200,000 in the first year.
Barbara Corcoran wants to know about sales. The cans retail for $9.99. Corcoran doesn’t see the product “selling well at that price point,” saying it’s a novelty product for holidays and special occasions. She’s out.
Kevin O’Leary tells a story about Phoenician purple dye, making the point that spray-on color for pets is not a proprietary product. As he normally does in these cases, Mr. Wonderful goes out.
Lori Greiner is concerned about the $200,000 in inventory sitting in warehouses. She’s out. Mark Cuban questions the retail strategy, and tells Abe that he should be marketing through the web and social media. “It’s so easy and so obvious, that it scares me that you couldn’t see that.” He’s out.
Only Robert Herjavec remains. He agrees with Mark, saying that social media is the best way to market the product. He’s on the fence, but Barbara Corcoran jumps in. She’s willing to give him the $200,000 he’s requesting, but she’d want 60% of the company. She wants him to “move out of the way” and let her market the product.
Having heard Barbara’s offer, Herjavec goes out. Abe considers the offer, but says “I don’t want to partner with somebody who’s just going to grab equity.” He turns the offer down, and leaves the Tank without a Shark deal.
Pet Paint Shark Tank Update
In spite of the mauling Abe received from the Sharks, he took their advice to heart and turned to the Internet to make a name for Pet Paint. Today, the product is available nationwide through Petsmart and online. Far from being limited to a “niche,” Pet Paint is used for parades and celebrations, as well as in animal rescue operations. Shelters use the spray to denote which animals are spayed or neutered, and even “dress up” animals to inspire visitors to adopt. He even carries Savorski Crystals to glue onto your dog for some added “bling.”
While the Sharks didn’t take a bite of Pet Paint, the product is having its day, and Abe has found himself a winner. In fact, Abe was so successful, he is featured in Beyond the Tank Episode 202.
As of April, 2023, he has over $5 million in lifetime sales.
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